PANews reported on September 29 that CryptoQuant CEO Ki Young Ju said on Twitter that Web3 and cryptocurrency are not scams if they are well regulated. Web3 achieves borderless collaboration and value creation through token incentives, and is more like a "protocol" than a "company", marking a revolution in the way of collaboration. He pointed out that although there are scams in the financial field, this should not obscure the huge potential of blockchain technology.

Ki Young Ju believes that under smart regulation, Web3 can develop into a stable and trusted space, and although it may slow down in the short term, long-term growth is inevitable. He also emphasized the importance of government support in promoting the development of the encryption industry and called on Korean politicians to pay more attention to cryptocurrencies.